America’s now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent.

...

Adding another $1 trillion dollars to the national debt isn’t exactly “forgiveness” for young people—it’s prolonging the payoff. In fact, student loan bailouts are a catch-22 for young people because they’re going to be held accountable for paying off the national debt and interest payments.

A student loan bailout will also be rewarding higher education bureaucrats for a diminished product. A college degree used to mean that a person would add on average $1 million to their income over their lifetime. Today a college degree only guarantees an average $300,000 in added income over a lifetime.

America’s now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent.

...

Adding another $1 trillion dollars to the national debt isn’t exactly “forgiveness” for young people—it’s prolonging the payoff. In fact, student loan bailouts are a catch-22 for young people because they’re going to be held accountable for paying off the national debt and interest payments.

A student loan bailout will also be rewarding higher education bureaucrats for a diminished product. A college degree used to mean that a person would add on average $1 million to their income over their lifetime. Today a college degree only guarantees an average $300,000 in added income over a lifetime.

If the government won't be held accountable for paying off their debts, then why should the American public?

It has nothing to do about responsibility, or doing the right thing.

If that was the case every level of government would be debt free.

No the government decided to make it more difficult to file bankruptcy for the public, but no problem for them.

Quoting: Anonymous Coward 19442819

Exactly.

And I find it funny that Congress has spent us into this deep shit, and somehow the Democrat party keeps saying it's the responsibility of "the wealthy" to dig us out (which is now mathematically impossible even at a 100% tax rate).

The "millionairs and billionaires" didn't spend us into collapse, the gawdamned Congress and the "President" did.

America’s now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent.

...

Adding another $1 trillion dollars to the national debt isn’t exactly “forgiveness” for young people—it’s prolonging the payoff. In fact, student loan bailouts are a catch-22 for young people because they’re going to be held accountable for paying off the national debt and interest payments.

A student loan bailout will also be rewarding higher education bureaucrats for a diminished product. A college degree used to mean that a person would add on average $1 million to their income over their lifetime. Today a college degree only guarantees an average $300,000 in added income over a lifetime.

America’s now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent.

...

Adding another $1 trillion dollars to the national debt isn’t exactly “forgiveness” for young people—it’s prolonging the payoff. In fact, student loan bailouts are a catch-22 for young people because they’re going to be held accountable for paying off the national debt and interest payments.

A student loan bailout will also be rewarding higher education bureaucrats for a diminished product. A college degree used to mean that a person would add on average $1 million to their income over their lifetime. Today a college degree only guarantees an average $300,000 in added income over a lifetime.

this really pisses me off, i worked two jobs and went to school full time in order to pay for my own college tuition and now i will be forced to pay for someone else's?

i was in class one day and this guy asked the professor why he never took a day off and canceled class. the prof said to him, "you are paying for this, it wouldn't be right for me just to take off days for the hell of it." the guy just stared blankly for a moment or two and said, "i ain't paying for it, you don't think i would be here if I HAD TO PAY FOR IT? i gets it free."

son of a b*tch, i am sick of paying for damn parasites and leeches.

5* and pin suggest.

"Hillary is in a race between the White House and the Big House." -- Daniel Greenfield

"Blacks can get into medical school with a lower grade. If that's true, a Jew should be able to play basketball with a lower net." --Jackie Mason

"Women should look good. Work on yourselves. Education? I spit on education. No man is ever going to put his hand up your dress looking for a library card." -- Joan Rivers

America’s now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent.

...

Adding another $1 trillion dollars to the national debt isn’t exactly “forgiveness” for young people—it’s prolonging the payoff. In fact, student loan bailouts are a catch-22 for young people because they’re going to be held accountable for paying off the national debt and interest payments.

A student loan bailout will also be rewarding higher education bureaucrats for a diminished product. A college degree used to mean that a person would add on average $1 million to their income over their lifetime. Today a college degree only guarantees an average $300,000 in added income over a lifetime.

this really pisses me off, i worked two jobs and went to school full time in order to pay for my own college tuition and now i will be forced to pay for someone else's?

i was in class one day and this guy asked the professor why he never took a day off and canceled class. the prof said to him, "you are paying for this, it wouldn't be right for me just to take off days for the hell of it." the guy just stared blankly for a moment or two and said, "i ain't paying for it, you don't think i would be here if I HAD TO PAY FOR IT? i gets it free."

Debt forgiveness after all it's only digits on paper or a computer right? The teachers/schools got paid so where is the problem?

Quoting: Anonymous Coward 28500452

It's not debt forgiveness.

It is Obamacare's assumption of private debt onto the public shoulders. The student debt is still there, but Obama will tax their parents to death in order to pay off the banks who hold the student loans.

Bush had the banks give out loans to those who couldn't afford them. They were predatory in their practices, but people were stupid to take loans they knew they couldn't afford. These people should have lost everything. The banks should have lost everything and the government had no business advising these banks. Elliot Spitzer tried to stop them, but we all know what happened to him.

Now, thanks to this stupidity by everyone else, those of us who didn't fall for this crap are supposed to foot the bill for it?

Bush had the banks give out loans to those who couldn't afford them. They were predatory in their practices, but people were stupid to take loans they knew they couldn't afford. These people should have lost everything. The banks should have lost everything and the government had no business advising these banks. Elliot Spitzer tried to stop them, but we all know what happened to him.

Now, thanks to this stupidity by everyone else, those of us who didn't fall for this crap are supposed to foot the bill for it?

Bush had the banks give out loans to those who couldn't afford them. They were predatory in their practices, but people were stupid to take loans they knew they couldn't afford. These people should have lost everything. The banks should have lost everything and the government had no business advising these banks. Elliot Spitzer tried to stop them, but we all know what happened to him.

Now, thanks to this stupidity by everyone else, those of us who didn't fall for this crap are supposed to foot the bill for it?

Ridiculous.

More bailouts is not the answer, ever.

Quoting: Anonymous Coward 24666450

Bush tried to get Congress to stop the Freddy/Fannie Freeloader Fail. Barney Fag and his fellow Democrats refused to do so.